Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) You may choose that the decline in value of a particular depreciating asset for an income year is not to be worked out under this Subdivision.
(2) The choice must be in the approved form.
(3) The choice cannot be revoked.
(4) You must give the choice to the Commissioner by the day you lodge your income tax return for the income year to which the choice relates.
Note: The Commissioner may defer the time for giving the choice: see section 388 - 55 in Schedule 1 to the Taxation Administration Act 1953 .
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